Apparently, $TROVE was a complete rug.
@TroveMarkets raised $11,5M by oversubscription only to launch <$1M FDV and is currently sitting at a $500K in FDV just few hours after launch.
Trove used Hyperliquid as hype to raise funds from investors, then did a last-minute pivot to Solana, leaving KOLs, investors, and die-hard supporters in shambles.
[ Raise target was $2.5M,
got oversubscribed by $11M,
they refunded only $100k, keeping $9.4M to themselves. ]
In the DISCLAIMER, it says; "If the event of extreme oversubscription, the raise target may be increased and more supply issued to ICO"]
A project boasting about testnet stats for a presale is a red flag, especially when there’s no clear MOAT.
>> Kols receiving funds to push its presale
>> @.DidiTrading calling out @.waleswoosh for undisclosed payment to push presale
>> @spacexbt further bringing out different proofs as to why it's an absolute rug.
>> Others taking advantage to slander . . victim? no if theyre' paid, they are no victims then.
What I do:
/> I love interacting and participating, but skipped this specifically (maybe luck, maybe redflag)
/> Quietly leave projects I suspect are fraud without calling it out (6/10), I'm saved
/> When a project flashes a red flag, it’s time to pack up.
/> I avoid projects chasing trends, especially Betas; most times it's not worth it.
I used to aggressively shill projects I liked. I stopped. (You should also know 95% of projects have some sort of marketing, even as big as $SUI )
Now, I share my thoughts and move on.
Just stay safe out there, trust no one, not even me! LOL
GM !
